ETH at $10K? How Hedge Funds and Telegram are Shaping Ethereum's Future

Hedge funds are shorting ETH while giants like SharpLink Gaming and Telegram make big moves. Is $10K ETH still on the table?

ETH at $10K? How Hedge Funds and Telegram are Shaping Ethereum's Future

The world of ETH, $10K targets, and hedge fund strategies is heating up! From bold predictions to surprising acquisitions, let's dive into what's shaping Ethereum's trajectory.

Hedge Funds Go Short: A Risky Bet?

Hedge funds are making a significant play by shorting ether, racking up a massive $1.73 billion on the CME, according to data. This strategy, highlighted by X account zerohedge, involves a basis trade where they short ETH on the CME while simultaneously buying spot ETFs.

Why this move? Traders can potentially secure around 9.5% per year through this approach. Adding another layer, shorting ETH while buying and staking spot ETH could yield an additional 3.5% annually. However, this staking perk isn't available to those holding spot ETFs, as custody is managed by the ETF provider.

SharpLink Gaming's ETH Accumulation: A Bullish Signal?

While some are betting against ETH, others are doubling down. SharpLink Gaming has solidified its position as the largest corporate holder of ether globally, even surpassing the Ethereum Foundation! Between July 7 and July 13, 2025, they acquired approximately 74,656 ETH for roughly $213 million, averaging $2,852 per ETH. Their total holdings now stand at around 280,706 ETH.

This aggressive strategy is fueled by raising $413 million through share sales. A staggering 99.7% of their ETH holdings are actively staked, generating around 415 ETH in staking rewards since June 2, 2025. Chairman Joseph Lubin, a co-founder of Ethereum, envisions SharpLink at the forefront of digital commerce, leveraging Ethereum's power in DeFi and blockchain infrastructure.

Telegram's Tac: Bridging Ethereum to the Masses

Telegram is making waves with the launch of Tac, a layer-1 EVM-compatible network that bridges Ethereum DeFi applications to the TON and Telegram ecosystems. This allows seamless interaction with popular DeFi protocols directly within Telegram, unlocking new opportunities for users and developers alike.

Tac enables Ethereum-based DApps to run natively on TON without extensive code modifications. Co-founder Marco Monaco emphasizes that Tac is a standalone blockchain with its own native jetton token, deeply integrated with TON’s infrastructure. With $11.5 million raised through funding rounds, Tac is set to democratize access to financial services through a familiar interface.

$10K ETH: Still in the Cards?

Eric Jackson, founder of EMJ Capital, remains bullish on ether. He believes the market underestimates upcoming developments, especially the approval of staking for ETH ETFs. Jackson's firm anticipates a supply crunch driven by increased institutional demand, reduced circulating supply, and passive investment flows from traditional finance.

Jackson projects a base case of ether reaching $10,000 by the end of the current market cycle, with a more optimistic scenario of $15,000 or higher if layer-2 adoption and ETF inflows exceed expectations. He sees Ethereum as an undervalued network poised to become an institutional-grade yield product.

Final Thoughts: The Ethereum Rollercoaster

From hedge funds shorting ETH to Telegram integrating DeFi, the Ethereum landscape is anything but boring. While $10K ETH remains a hot topic, the underlying developments suggest a dynamic and evolving ecosystem. Buckle up, folks! It's going to be an interesting ride.